Today’s Lowest Mortgage Interest Rates – Fixed HSBC, Comerica and First Citizens Bank Loans at 4.25% for Many Borrowers
Posted on | June 21, 2011 | Comments Off
When seeking today’s lowest mortgage interest rates many homeowners are finding that current 30 year fixed home loan rates are around 4.25% for the best borrowers of money. Many of these individuals are seeking financial assistance from banks such as HSBC, Comerica and First Citizens Bank but remember that there are many options available.
Before making any financial commitments to one specific mortgage lender it is always a wise choice to look towards the competition. By getting several mortgage interest rate quotes homeowners will likely be able to save a little more cash as they can negotiate lower costs and fees.
The general rule of thumb is that homeowners should desire to save at least one full percentage point when looking to refinance a home loan. If individuals cannot save one full percentage point then it is usually the case that the refinance process will not be helpful. This is one of the many reasons it is a wise decision to take advantage of the many mortgage calculators that are available online.
As we get closer to the summer of 2011 there is a good chance that we could see 30 year fixed interest rates start to rise. If the overall economy drastically improves and the unemployment rate drops then many believe that we will see 30 year fixed mortgage rates start to make their way back to 5% and possibly up to 6%.
With that being said it is important to note that the unemployment rate has recently moved up to 9.1%. Even though this is the case it might still be wise to take advantage of the low interest rate environment while it is available. Most people have no clue when interest rates are going to move up and then end up missing out on a great chance to save money.
Author: Jeremy North
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